EF EnergyFunders Ventures Inc.

Paleo Resources Inc. announced today that Marc Rhoades, Paleo’s current Chief Executive Officer, has assumed a new role as Paleo’s Chief Operating Officer. Roger S. Braugh, Jr., Paleo’s Executive Chairman of the Board, has been appointed to the position of Interim Chief Executive Officer. Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or [...]

Paleo Resources Inc. is pleased to announce that it has completed and flow tested its 103/09-22-039-26W4M/0 well in the Joffre B Pool lease in Alberta, Canada. The 9-22 Well was perforated in the top four meters of the Leduc formation, from 2,163 m to 2,167 m measured depth. During its initial 4 hour test, the 9-22 Well flowed naturally, without artificial lift, a rate of over 200 bbls oil per day, with approximately 20 [...]

Paleo Resources Inc. is pleased to announce that the Ranger A #1 well, located in Polk County, Texas, recently completed a tie-in to local pipeline infrastructure and commenced sales of natural gas at a rate of approximately 538 mcf per day. The Ranger A #1 well was one of five successful wells drilled to date by Paleo in Polk County, Texas and was completed and tested in June 2017. The well was completed at a measured [...]

Paleo Resources Inc. is pleased to announce that it has drilled and logged its 103/09-22-039-26W4M/0 well in the Joffre B Pool lease in Alberta, Canada. Based on Paleo’s initial review of the well log, the 103/09-22-039-26W4M/0 well has potentially penetrated 5 gross meters of residual hydrocarbon-bearing Leduc formation. Notably, the well encountered the top of porosity in the Leduc formation 7.36 meters below the [...]

Paleo Resources Inc. is pleased to announce that it has commenced drilling the 103/09-22-039-26W4M/0 well1 in the Joffre B Pool lease in Alberta, Canada. The 103/09-22-039-26W4M/0 well will be a directional well drilled to an approximate depth of 7,071 feet. The well will target the Leduc formation, which has produced approximately 6 million barrels of oil and 9 BCF gas from Joffre B Pool wells since initial production [...]

Paleo Resources Inc. announced today that, further to its news releases dated May 13, 2019 and June 5, 2019, it has completed the closing of the second and final tranche of the private placement of debentures for gross ‎proceeds of CDN$646,554 , ‎subject to final approval of the TSX Venture Exchange.‎ Pursuant to this final tranche, Paleo settled a portion of the debt owed to Energy Reserve Capital, LLC [...]

Paleo Resources Inc. is pleased to announce that it has commenced construction of a gas pipeline for its Ranger A #1 well, located in Polk County, Texas. The pipeline is approximately 8,300 feet in length and will connect the well to the Kinder Morgan Tejas Pipeline system. Construction is anticipated to take three to four weeks. Thereafter, the line will be commissioned, and the Ranger A #1 well placed into production [...]

Paleo Resources Inc. is pleased to announce that it has permitted the 103/15-22-039-20/0 well in the Joffre B Pool lease in Alberta, Canada. Paleo has completed well planning and signed a drilling contract for the well. The drilling rig will mobilize to the location when weather permits. The 103/15-22-039-20/0 well will be a directional well drilled to an approximate depth of 7,071 feet. The well will target the Leduc [...]

Paleo Resources Inc. announced today that it has increased the size of its previously announced non-brokered private placement offering of 7.5% subordinated secured convertible debentures to CDN$4,024,200 . In addition, Paleo announced that it has completed the closing of the first tranche of the private placement of debentures for gross proceeds of CDN$2,036,245 , subject to final approval of the TSX Venture Exchange [...]

Paleo Resources Inc. announced today its intention to complete a non-brokered private placement offering of 7.5% subordinated secured convertible debentures in the principal amount of up to CDN$2,700,000 . The debentures will bear interest at a rate of seven and a half percent per annum, payable monthly in arrears on the 15th day of the following month, and will mature on the date that is three years from the closing [...]